Tata Steel's Europe bet pays off after 15 years and major cost takeout

In FY22, Tata Steel reported highest ever consolidated EBITDA of Rs 63,830 cr and Europe contributed significantly with EBITDA of Rs 12,164 cr

It’s been a long time coming. In 2007, Tata Steel acquired Corus for 6.2 billion pounds in one of the largest cross-border acquisitions in Indian corporate history, but save for a few good years, it was largely a problem child.

But fifteen years and significant cost takeout later, not to mention a record rally in steel prices, have finally pushed Tata Steel’s European business to a good place. In FY22, Tata Steel reported its highest ever consolidated EBITDA of Rs 63,830 crore and Europe contributed significantly. It generated the highest ever EBITDA of Rs 12,164 crore (or 1,199 million pounds).